Scotiabank Has Lowered Expectations for Canadian Apartment Properties REIT (TSE:CAR.UN) Stock Price

Canadian Apartment Properties REIT (TSE:CAR.UN) had its target price dropped by equities researchers at Scotiabank from C$47.50 to C$45.00 in a research note issued on Tuesday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential upside of 17.83% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD Securities dropped their price target on Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research report on Monday. Canaccord Genuity Group downgraded shares of Canadian Apartment Properties REIT from a “buy” rating to a “hold” rating and upped their price target for the company from C$46.00 to C$48.00 in a report on Friday, August 1st. Desjardins reduced their price target on shares of Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating for the company in a research report on Friday, September 19th. CIBC lowered their target price on Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a research note on Monday. Finally, National Bankshares lowered their target price on Canadian Apartment Properties REIT from C$51.00 to C$48.50 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$47.93.

Canadian Apartment Properties REIT Stock Up 2.2%

Shares of CAR.UN traded up C$0.81 during midday trading on Tuesday, hitting C$38.19. The company had a trading volume of 300,375 shares, compared to its average volume of 476,563. The company’s 50 day moving average price is C$40.16 and its 200 day moving average price is C$42.28. Canadian Apartment Properties REIT has a 52 week low of C$36.78 and a 52 week high of C$46.61. The stock has a market cap of C$5.97 billion, a price-to-earnings ratio of 97.23, a PEG ratio of -10.12 and a beta of 0.96. The company has a quick ratio of 0.16, a current ratio of 0.36 and a debt-to-equity ratio of 76.05.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.